MetalJunction, NCDEX link up for coal futures
Kolkata: MetalJunction Services Ltd (MJSL), a SAIL-Tata Steel e-auction joint venture, has linked up with the National Commodities and Derivative Exchange (NCDEX) for indexation of coal available in India, in line with the global practice.

Though MJSL already has a spot market, CoalJunction.com, in place, the indexation would help create a more credible spot market with transparent price benchmarks in terms of calorific value.

NCDEX, which has already launched futures on crude and furnace oil, has been exploring possibilities in coal, especially in view of the rising crude prices.
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Karvy mulls legal options on SEBI embargo
Hyderabad: Karvy has said that the embargo on opening new demat accounts and participating as registrars to IPOs continues to worry the company.

Reacting to the SEBI order on Saturday, J. Ramaswamy, vice-president (corporate affairs), said that lifting the restraint placed on opening new demat accounts, as well as acting as registrar for IPOs, would be decided after the enquiry ordered by the SEBI.

"The senior management is in discussion with the legal counsels and we are exploring various options in this regard," he said. The Friday order of SEBI however cleared doubts about the future of Karvy's 7.25-lakh DP customers. The Hyderabad-based company termed the decision to keep its mutual fund registry business out of the purview of the order as being positive.
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